Euronext’s ability to out-muscle the Nasdaq in a race to own the Oslo Stock Exchange appears to be good news for the shipping sector.
Nasdaq had been waging a takeover war with Euronext for almost six months in a high-value deal which has attracted limited interest from Oslo’s shipping community.
The drama ended this week when Nasdaq walked away from its £600m plus bid, leaving the path clear for Euronext which has the support of the Norwegian government.
Shipping sources say the battle for the Oslo Bors has not generated much attention in shipping circles, despite Oslo being one of the leading capital markets systems globally for the industry.
However, people with knowledge of the bids say Euronex has clear plans to cement Oslo as the leading stock exchange in Europe for both shipping and seafood.
“In that aspect I think it can be positive, with more marketing for Oslo-listed companies to European investors,” TradeWinds is told.
Oslo has seen a rush of capital markets activity in the past few weeks.
BW backed Epic Gas, Arne Fredly’s Hunter, Belships and Tor Olav Troim’s 2020 Bulkers has all issued fresh stock of late.
Oslo is the fourth largest stock exchange for shipowners globally and the biggest in Europe, both in terms of fleet capacity and vessel numbers, according to Clarksons.
The New York Stock Exchange, Tokyo and Shanghai are the top three. However, Oslo was ranked second behind only New York in terms of shipping capital raised last year.
